Startup Descartes Labs Exemplifies New Mexico Investment Opportunities

Amanda Giannini, head of finance for startup Descartes Labs, has spent the last decade in venture capital in Albuquerque. She says the city offers her an incredible quality of life while providing resources and support for a thriving tech environment.

Descartes Labs, which uses satellite imagery to model complex systems on the planet, announced this week that it will be granted $600,000 in Local Economic Development Act money to add 50 jobs and make improvements to its Santa Fe headquarters. The company made headlines in August when it raised $30 million in its Series B round – the largest in recent New Mexico history. Prior to that, it raised about $8.3 million in private equity from out-of-state venture investors. Descartes’ technology is based on artificial intelligence software the company licensed from Los Alamos National Laboratory.

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